Charitable Gifts Made to Grace-St. Luke’s Episcopal School - Fundraising Policy
Like most independent schools, GSL depends on donations and charitable gifts to supplement tuition to meet its financial needs and budgetary obligations. Charitable gifts are an important and necessary part of the school’s fiscal management. The GSL Development Department, under the guidelines of the school’s Board of Trustees, determines and oversees virtually all fundraising activities (including those of the Parents Association) with the direct and singular purpose of benefitting and enhancing the GSL learning environment. (Exceptions to Development’s oversight responsibilities include the Athletic Department’s Booster Club and the Theatre Departments’ Performance Arts Booster Club.)
GSL is mindful of the numerous requests and expectations of the school’s supporters to contribute money in addition to the cost of tuition; consequently, there is a set limit to the number of approved fundraisers conducted each year. Additionally, GSL does not allow special-interest fundraising activities that could affect the success of our own fundraising efforts, compete for our donors, or put additional financial demands on our families and supporters.
The school reserves the option of organizing one event to help an outside organization during the school year.
Members of the GSL community (students, faculty, administrators, parents, etc.) are asked not to exploit any relationship with a donor, prospect, volunteer, or employee for the benefit of the member’s or members’ outside interests or organizations. They may not distribute materials to solicit money, advertise, or promote any outside organization.
No event or activity may include door-to-door fundraising by students in which students would be selling items or soliciting contributions or orders unless they know them as neighbors, relatives, teachers or friends.
No solicitation for contributions, pledges or orders on behalf of another organization outside of GSL School, with the exception of Grace-St. Luke’s Episcopal Church, may be conducted in the name of the school or on the campus.
Fundraising and Special Events – General Guidelines
The Parents’ Association and all other school-related groups must obtain prior approval for any new event or activity from the Development Department. Money raised from these efforts must be used for priority items and projects in keeping with the Board of Trustees’ funding priorities and with the school’s strategic plan. Approved, ongoing fundraising events include the Annual Fund (Annual Giving Campaign), the Anchor Auction, Wrapping Paper Sales (Fall Fundraiser), Book Fair, Booster Club Concessions, Student Council Concessions, GSL Spirit Wear Sales, and the Eighth Grade Italian Dinner.
GSL also accepts donations made through Target, Kroger and Amazon.com designated charity programs.
The Annual Fund/Annual Giving Campaign
Each year, the Development Department leads an annual giving campaign to raise money for special, supplemental purchases and to meet the financial needs not met by tuition income. This Annual Fund drive is the single most important avenue of giving, and it is hoped that every parent will want to contribute to this endeavor.
GSL first established an endowment fund, called the Anchor Fund, in 1982. Each year, 5% of the dollars raised through the Annual Fund is automatically deposited into the Anchor Fund Endowment Trust for reinvestment. Under the successful guidance of Gerber Taylor Management, this fund has grown over the years and is currently worth about $1.5 million. With the Board’s approval, the structure of this Anchor Fund Endowment was modified and expanded to include five additional and separate funds, offering a more focused range of giving opportunities. The six Endowment Funds are:
- The Anchor Fund: Established in 1982, this fund provides general investment and growth opportunities for the school. Income from this fund is spent on an as-needed basis.
- The Dennis Cain Facilities Fund: Established for the maintenance of the School buildings and grounds. This includes, but is not limited to, construction of new facilities, debt service, and other items related to the physical plant, that aid the mission of the school.
- The Scholarship Fund: Established to provide need-based financial assistance to families of current or prospective students wishing to attend GSL. (Determination of those students receiving financial assistance rests solely with the Headmaster.)
- The Library Fund: Established to promote and support the GSL School library.
- The Technology Fund: Established to provide appropriate technology to students, faculty, and staff consistent with the educational goals and mission of the School.
- The Arts Fund: Established to promote and support the arts activities of the school. This includes, but is not limited to performing and visual arts.
GSL families are encouraged to continue their support of the Annual Fund each year, because of its critical importance to the school’s operating budget, but the Board and Administration are pleased to offer these endowment options for the school’s continued and future success.
Memorials and Honoraria
Throughout each school year, gifts are received to a honor a special person, memorialize a loved one, or celebrate a special event. The Development Department notifies the individual or family of these thoughtful gifts upon receipt.
Anyone who attends GSL, even if he or she does not graduate from GSL, is classified as an alumna or alumnus. A permanent tribute, The Alumni Corner, was erected in 2014 to honor all GSL alumni, offering plaques for permanent display. These may be purchased through the Development Department.
These gifts are of tangible property or professional services designated by the individual donor for a special one-time project or purpose not included in the operating budget of the school.
The Grace-St. Luke’s Annual Report is published in the fall of each year. It contains information about the goals and expenditures of this annual campaign and includes the names of Annual Fund contributors and contributions for the preceding fiscal year.
Grace-St. Luke’s Episcopal School is legally charitable institution, which complies with all appropriate federal and state laws. All cash gifts to the school for which the donor receives no goods or services are tax deductible. Certain donations - ticket purchases, auction items, gifts of stock, and gifts-in-kind - are deductible to the manner and extent provided by law in accordance with IRS regulations. The Development Department automatically furnishes gift substantiation summaries to donors for tax purposes.